Fintech News Issue #191
November 8th, 2018

Looking back won't pay for the FS industry because banking's past does not dictate its future. Fintech and APIs are a match made in heaven and how to turn risk into opportunity. Enjoy another issue, brought to you live from Web Summit in Lisbon.
– Michael and the FinTech Weekly team

Top Stories

Looking back over the past decade of the banking industry will not prepare us for a future that will transform faster than ever. A focus on new technologies, innovation and the application of customer insights will require new skills and a completely different culture than traditional banks have today.

Since the year 2000, when web APIs first appeared with the introduction of Salesforce, the technology has been waiting for its perfect match. It roamed the internet connecting with innovative technology and intelligent verticals.

Risk and compliance officers are becoming integral members of the payments innovation team. Intrapay CRO, Stephen Buechner, explains how perceptions of these functions are changing as enlightened companies recognise the link between customer trust and higher revenue.

Top Events

November 14th, 10:00am CDT: Hear from Combined Insurance and Hippo Insurance on how to nail down AI, machine learning and advanced analytics strategies. Register now and join the free webinar on how carriers can implement analytics across operations, who is driving strategy and find out how to effectively implement advanced analytics.

Financial marketers have the tools to replicate the intimate customer relationships of times past. Done well, digital hyper-personalization can be extremely powerful. Done poorly, and you can lose trust ... or the customer relationship completely.

The world is changing faster than ever before. With billions of people hyper-connected to each other in an unprecedented global network, it allows for an almost instantaneous and frictionless spread of new ideas and innovations.

Regardless of how you personally feel about the prospect of using digital currencies, it’s hard to deny that cryptocurrencies have generated a ton of momentum, both good and bad. But, from each experience, domestically and abroad, there are lessons to be taken away.

The change is here. While 2017 was the year of the utility token, 2018 is the year of the security token. This is more than just a semantic change; it means that we are going to see less capital raised from the public and more capital from institutional investors

The future of financial services hangs on creating sustainable revenue models for players that support financial wellness, create value, and build trust with underserved consumers. But how is the consumer positively impacted? And who should pay for these solutions?

Imagine a country with an army of techies, a government that supports AI and blockchain by setting a mandate and investing billions, large scale tech companies that are rapidly experimenting and implementing at scale, and an abundance of data to feed the application of these technologies.

Almost every financial institution says it's looking for young, creative and innovative minds to help develop the ‘next big thing’. But how do banking providers overcome the biggest obstacle when trying to attract talented innovators — namely that they are a bank?